6 ABC Corporation reports in its 10-K, Revenue of $8.5 million and Gross Profit as a percent of sales equal to 40.5%. For next year, you project that sales will grow by 3% and that Gross profit as a percent of sales will remain at 40.5%. Next year's forecasted Gross profit will be ?

Answer rating: 100% (QA)

Forecasted Sales can be computed as Current Year Sales 1 Growth Rate Substit... View the full answer